Mineral Exploration in Australia - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Golden: Rising commodity prices, particularly for gold, have supported industry revenue growth

Mineral exploration's role in the mining supply chain is to identify a pipeline of economically proven resources for the future development, production and export of minerals. Mineral explorers locate ore bodies that can be mined and provide data so that companies can evaluate the viability of deposits. Industry activity is often taken as a lead indicator for mineral output and the industry's performance moves ahead of extraction industries in the Mining division. Global prices for different mineral commodities, the strength of the Australian dollar and sentiment in the Mining division influence spending on exploration activities. Weaker commodity prices reduce the value of potential discoveries, making it more difficult for exploration companies to access funding. The connection between industry activity and commodity prices also underpins high revenue volatility.

Industry firms explore for minerals either on their own account or on a contractual basis. The industry excludes firms that explore for crude petroleum and natural gas.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.